Caspian Sunrise Share Discussion Threads

[xclusive2] 29/10/2017 20:15

Bet Cannamen are looking at developments and regretting their decision to return 35% of BNG to Roxi !!Selling Galaz to Xinjiang Zhundong was another great coup and our KO must be grinning like a Cheshire Cat.

[therealenigmatic] 29/10/2017 18:45

I took a look at the seeking alpha article and left some pertinent comments. Thanks for the heads-up.

[1enigmatic] 29/10/2017 17:54

There's only one tier 1 chinstrap

[1enigmatic] 29/10/2017 17:49

Very childish very very sad

[xclusive2] 29/10/2017 16:14

Malkiel,Much that I like some of our Jonny's input, nobody is going to be able to advise whether A5 is going to be commercial until flow test completed and at this juncture, that's the no 1 priority closely followed by A6and 801. Jonny,Hope you're ok sir.Smarty

[konil] 29/10/2017 16:03

if you believe what the company says, it doesn't need decoding.
if you think they are spinning a yarn, then its anyone's guess what's going on.

[malkiel] 29/10/2017 15:58

Where is ngms27? He has not posted on ADVFN since 21 Sept. We need him to decode recent news and advise if it makes a positive case to invest in CASP.

[konil] 29/10/2017 15:17

as long as its not orange, i'd rather it was sort of oil coloured.

[xclusive2] 29/10/2017 14:47

Interesting to re-read the info from the G&C assessment of the opp at BNG back in 2011. '900 million barrels unrisked from 37 targets on BNG, shallow and deep. I believe that this will change considerably as they get to understand the sub surface geology better and the only way that happens is by appraisal. Is there a real elephant on the BNG block ? at this juncture, nobody knows. One thing for sure, they'll be extending their acreage.The future is bright.

[xclusive2] 29/10/2017 14:29

Toggle,Will be different this time. Much that I'd like regular news flow, many of the 2014 RNS's were to validate the oil horizon as they were taking cores up to 51m and logging from there to 105m, not needed this time.

[roy1982] 29/10/2017 14:18

back to school tomorrow thank goodness

[therealenigmatic] 29/10/2017 14:11

Another week..... Slips by and the devout RIP (aka Caspian Sunset) followers blindly plough on relentlessly into the night. Refusing to be swayed from their path desperately keen to reach the end of the rainbow where a pot of gold awaits. A romantic and noble pursuit in their quest for untold riches.

[therealenigmatic] 29/10/2017 14:09

Even the muppet FK has finally woken up to the fact that this company is a basket case

[therealenigmatic] 29/10/2017 14:07

Looks as if both JMR and myself were proved correct when we mentioned the disingenuous nature of the BOD.

[therealenigmatic] 29/10/2017 14:06

Looks as if some idiot is trying to impersonate me but everyone knows there is only one ENIGMATIC

[davidblack] 29/10/2017 12:01

The ingredients for success are there we just need to wait a few months, ideally get a couple of lucky breaks and the Cake could become something quite special.

Sorry for the food metaphor, just getting hungry and that Sunday dinner smell is now wafting through my apartment.Roast beef, Yorkshire and an Argentine red today.

[steveh8] 29/10/2017 10:48

Konil/Smarty,

Appreciate the responses. Based on my calcs I make it that every 4,000 bopd generates circa $20m a year revenue. So let's say for the sake of it the shallows takes care of general running costs, getting A6 and 801 flowing. Then A5 comes on line circa a further 4,000 bopd and there's another $20m that should fund the next two deeps. It's all tight but with a bit of clever planning, forward selling etc could work out good. That excludes the revenue from any success at A6, 801 or any other future shallows not drilled yet. As more wells come on line more wells can be drilled.

Thanks gents just helps me get my head around it.

Steve

[togglebrush] 29/10/2017 10:05

RNS followed quickly and often, for RXP, after initial discovery, hopefully they will this time !
'
09/07/2014 07:00 Discovery at BNG
11/07/2014 07:00 Licence extension and operational update
23/07/2014 07:02 Operational Update
05/08/2014 15:45 Update on discovery at BNG
11/08/2014 07:00 Further update on discovery at BNG
19/08/2014 07:00 Deep Well Update
01/09/2014 07:00 Further update on the Deep Discovery at BNG
08/09/2014 07:01 Operational Update

[xclusive2] 29/10/2017 09:44

Konil,'they were targetting 2018 q1 to spud a8 but seem to have moved that forward to 2017 q4, which sounds good to me! i guess they are confident of a5 revenues sooner rather than later.'Good spot K,I'd missed that and shows that they expect A5 to be commercial and probably A6 or/and 801. Without them they'd have to go to KO with only 2 months remaining this year. They also stated that they would shut down or slow operations in the harsh winter, this seems to contradict that statement, believe it was in the interims.

[twaintwix] 29/10/2017 09:28

 Sunday 29 October 2017 ShareProphets

Deep well success should drive Caspian Sunrise even higher

By Gary Newman
Thursday 26 October 2017


I’m always wary of companies that have seen a large hike in share price, especially smaller ones in the natural resources sector, but in some cases the rise would appear to be justified by recent news.

I believe that could well be the case with Caspian Sunrise (CASP), as although it is now much higher than when I covered it as a buy at 7.5p a few months back – its shares are now trading at 13.25p to buy – a fair bit has happened, including some news which could be transformational for the company.

The last time I looked at the company it was engaged in drilling a sidetrack at its deep well A5, on the BNG licence in Kazakhstan, and I mentioned that although it already had decent levels of production from its shallower wells, it was really the success of these deeper drills which would likely make or break the company.

The latest update a few days ago stated that this sidetrack has now been completed and that oil has been flowing naturally at a rate of 3,500bopd, and also that the data on reservoir pressures is very encouraging following a shut in. The company is also expecting that the oil from these deeper wells will be of a much higher quality than that it is producing from the shallower ones.

I’m never one to count chickens before they are hatched, but thus far the signs seem to be very encouraging. Although further testing will be needed to ascertain exactly how good this particular well will be.

It also means that the company will look to carry out flow tests at the other deep wells, A6 and 801, now that the rig has finished at A5. In terms of further drilling of these deeper wells, there are plans to spud a well at A8 in early 2018, and moving forward, another at 802.

Whilst these deeper wells have the potential to really change the company there is still plenty of risk involved as they aren’t cheap, with drilling costs of up to $10 million. In terms of the next drill at A8, the company is expecting to cover that from production at its shallow wells, along with advances from oil traders and loans, rather than via equity raises.

The shallower wells at BNG have continued to perform well, with aggregate production in excess of 3,400bopd, but the big problem for the company is that it has only been able to sell the oil into the local market at prices of up to around $19 per barrel, but it is hoping that by July 2018 it will have a full production licence in place which will give it access to the export market and it will realise far higher prices.

Financially that will make a big difference to the company and will help to play a bigger part in the funding of its deeper drilling programme.

The company currently has proven and probable reserves of some 29.3 million barrels from the shallower wells alone, so if the continued work on the deeper wells proves to be successful I would expect a big boost to these reserves figures whenever the next CPR (or equivalent) is carried out factoring in the new data.

There are of course risks here, including the fact that the company operates in Kazakhstan, and a lot revolves around the success of the deep wells. But given the recent developments and what the company has planned in the coming months, I can still see further upside potential despite it trading at a valuation of nearly £220 million currently.

[konil] 29/10/2017 02:02

db, i agree re. the legislative and other frustrations of operating in developed markets.

my point was that having contacts in the right places, although important everywhere, is much more so in 'frontier' territory where govt. and legislative frameworks are less developed. in these markets factors such as contacts / relationships are even more important.

in that regard there is no doubt casp are well off not only to have locals on the board but locals who have operated at high levels in the relevant sectors (finance/oil) which has and will continue to prove beneficial.

[konil] 29/10/2017 01:41

timber, thanks for second rbl link.